Project description
and objectives:
|
The project consists of a subscription to newly issued PBK shares. Following this investment of SK 340 million (ECU 9.1 million), the EBRD will own about 20 per cent of PBK's capital and voting rights.
The project aims to strengthen the capital base of a regional bank in the Slovak Republic. This will allow it to take full advantage of future growth opportunities in the market place and to support its on-lending activity to private sector companies of prime credit quality.
|
Transition impact:
|
The project will increase competitive pressure in the Slovak banking sector and is likely to contribute to innovation of services and products and to improve the service provided to customers. An indirect contribution to the transformation of the local economy will result from the on-lending to local enterprises on the basis of criteria and standards which are of international quality levels.
|
The client:
|
Priemyselná banka a.s. Košice (PBK) was established in December 1991 by the Confederation of Industry of the Slovak Republic and started its operations in 1992. Its head office is located in Košice, the second-largest industrial city in the country. Since its establishment, PBK has focused its activities on providing corporate banking services, in particular short and medium-term loans to its local clients. PBK's main objective is to become the leading private medium-sized bank in the central eastern part of the Slovak Republic.
|
EBRD finance:
|
The EBRD will subscribe to newly issued ordinary shares of PBK. Following the investment of SK 340 million (ECU 9.1 million), the EBRD will own about 20 per cent of the capital and voting rights of PBK.
|
Total project cost:
|
The total project cost is SK 340 million (ECU 9.1 million).
|
Environmental impact:
|
The project has been classified as FI and therefore does not require an Environmental Analysis or an Environmental Audit. PBK has already developed and adopted, in the conduct of its business activities, environmental procedures in accordance with the Bank's Environmental Guidelines for Financial Intermediaries.
|
Technical
cooperation:
|
None.
For consultant opportunities for projects financed by technical cooperation
funds, visit procurement
of consultants.
|
Company contact:
|
|
EBRD contact:
|
Andrzej Witak, Operation Leader: witaka@ebrd.com
|
Business opportunities:
|
For business opportunities or procurement, contact the client company.
|
General enquiries:
|
EBRD project enquiries not related to procurement:
Tel: +44 20 7338 7168; Fax: +44 20 7338 7380
Email: projectenquiries@ebrd.com
|
